Description
Book SynopsisThis book examines the financial, legal and institutional strategies available to the international oil and gas industry to manage political and investment risk. The financial techniques for mitigating and allocating risk include corporate finance, joint ventures, and project finance. The legal techniques include production sharing agreements, profit sharing agreements, service contracts, bilateral investment treaties, and multilateral investment treaties. The institutional techniques include domestic courts, national constitutions, international arbitral tribunals, governmental and non-governmental regulatory agencies, alliances and energy diplomacy. This book traces the historical development of these techniques and their application in practice. The effectiveness with which companies manage political and investment risk is important for the financial sustainability of individual firms and the industry as whole. The real and perceived level of risk affects the level of exploration ex
Trade ReviewWith first-hand knowledge and a true scholar’s deep understanding, Steve Mucci explains how oil companies navigate churning markets and volatile governments across the world. Powerful yet vulnerable, these companies must employ a range of tools to mitigate economic, financial and political risks. Mucci’s systematic analysis helps both practitioners and researchers better understand an industry that is a vital nerve center for the global economy. -- David Brian Robertson, University of Missouri, St. Louis
Professor Mucci’s Political and Investment Risk in the International Oil and Gas Industry combines the experience of a long-time industry insider with a sophisticated theoretical understanding of the issues surrounding international investment. This perceptive and deeply researched work documents the rise, fall, and rise of expropriations in the oil and gas industry and examines 63 investment arbitrations from 1996 to 2015. The book will be of great value to academics, practitioners, and policymakers alike, and I highly recommend it. -- Kenneth P. Thomas, University of Missouri
Table of ContentsPreface Acknowledgments List of Abbreviations Introduction Chapter 1: Institutions and Organizations in Theory Chapter 2: Organizations in Practice Chapter 3: Contract Provisions, Contract Disputes, Bilateral Treaties and Expropriations Chapter 4: Financing, Fiscal Regimes, Alliances, and Financial Reporting Chapter 5: Geopolitics, Multilateral Treaties, Forums, Energy Diplomacy, and National Security Chapter 6: Case Studies Chapter 7: Summary Conclusion Appendices About the Author
